How to switch to staking as investor (PoS) only? And why? e.g. mag unit is low at the moment
edit 2017 August 15:
- we had lots of opinions in the last 2 days:
- fact is: my strategy worked, I did NOT lose my deserved PoR earnings...
- see more in this comment
----
- How to switch to investor staking (PoS)?
- Why I switched from PoR (Proof of Research) to only generating blocks via PoS, at the moment?
How to switch to investor staking (PoS)?
- When you stake with Gridcoin in !investor mode you still help/secure the network because the net weight stays higher (than when you shutdown your wallet)
How to go to investor mode?
- exit your Gridcoin wallet
- uncomment your email (or set the boincdatadir=foo) in your gridcoinresearch.conf file
- of course remember what you did in step 2, so you can revert it later
- start your wallet and make sure you see below picture after a few minutes (indicating you are an investor)
Why I switched from PoR (Proof of Research) to only generating blocks via PoS, at the moment?
See Gridcoin's magnitude unit evolution here. Right now it fell even more, down to 0.15
That means you will get:
- paid out less $GRC currently...
thus I am waiting with my PoR staking until the mag unit increases again...
In short:
- if coin production is low: mag unit is increased
- if coin production is high: it's decreased
Further links:
- "The previous 2 SB's were forced through by @ravonn adding a dummy CPID with high mag. However there was a slight issue with doing this because the mag_unit reduced. To prevent the mag unit drop, Rob made a change to increase everyone's mag and still allow SB's to be accepted." (here) and #12
- button to switch to investor-mode (and back)
Stopping your wallet from staking just because the mag unit is low is a gamble at best. The base mag unit is actually 0.125, which means that it may well drop further.
My advice here would be to not try and game the system. It will be very stressful, takes a lot of work, and will likely result in a net gain of zero at best.
In you are still not convinced, remember that there is currently a 35% mag boost going. This translates directly into a 35% increased mint at a given mag unit. When that boost is removed at the next mandatory, the mag unit would have to increase from the current 0.15 to at least 0.225 to get a similar amount of GRC from an equivalent stake.
TL;DR Don't try to game the system - you will probably lose.
Iam crunching away just like before. The good thing with gridcoin is that you are not just crunching something useless but data which really matters. Therefore I don't see this as an investment that needs to pay itself directly. It is a service to humanity and yeah you get some gridcoins as well ! So win win even if because of that mag unit decrease the payout of gridcoin is a bit less...
Don't react like normal miners with a normal cryptocoin....
Exactly.
Crunching as usual here, not worth the hassle
status update, about 2 days later:
Since block 994762 the mag unit rose again to 0.175
We had lots of opinions in the comments here over these 2 days...
fact is: with my strategy I did NOT lose my deserved PoR earnings... got my first PoR block now
if anyone else also used this strategy: now is your time to enable PoR staking again :-)
Honestly i am completely not getting that thought. If you really want to earn as much as you can with the power of your hardware (and have something halfway modern at hand) go and mine Ethereum or some other Altcoin, there are lots on the market right now. Crunching data for Gridcoins never felt like mining to me, its calculating data with a scientific background, that has worth out of its own, no matter if Gridcoin goes up or down at the exchanges or if the mag unit drops or rises. Therefore all this gambling around getting squeezed out even the last 0,01 GRC does simply not make any sense, at least not for me.
Sorry just my 2 cents ...
Disclaimer: I am just a bot trying to be helpful.
If you are already at peak mag then this is a bad idea. Each SB will see a reduction in mag as the competition grows. So when would you enable staking as a researcher again?
Best just to keep the wallet staking 24/7
well, my magnitude has been a bitch recently, it's slowly recovering...
my aim is to enable PoR staking also when the mag unit rises (I have some assumptions, later I can tell more about those)
let's see how this goes... but that the mag unit broke out today a little towards a higher value is not a negative signal for me
The button to switch from investor/cpid is a great idea!
Why though? How often does anyone actually need to make that switch?
I think it will just cause more confusion.
A. Lot.
Why do you make the switch? I can think of very few circumstances where someone would have a reason to switch back and forth between miner and investor. Do you not think this would just create another button to confuse new users?
Hey there,
To switch to Investor mode : POS 100%, how much coins do you require to stake once by day ?
The button to switch is a good idea. Basically, everything that makes life easier to everyone should be included =).
You would need hundreds of thousands - I am not kidding.
The reason researchers stake a lot more often is that your research output (your magnitude) greatly reduced your stake time by increasing your chance to stake.
There are very, very few investors with balances high enough to stake every day through POS.
A few weeks ago you needed a few thousand. Difficulty has risen a lot since then. If I had an investor/CPID button i could test this out so easily! xD
I don't think a few thousand has ever been enough to stake once per day purely by POS...
Source: grcgo.com